Lundin Energy outlined plans to become a significant European renewables player after disposing of its oil & gas interests and making a new start as a green power group.

Sweden-based Lundin Energy is in the process of selling its hydrocarbons exploration and production operations to Aker BP in a $14bn cash and share deal agreed late last year and due to close in the second quarter.

That will leave Lundin Energy as an all-renewables operation with three assets in the Nordic nations – two wind farms of 132MW and 86MW under development in Finland and Sweden respectively, and a half-share in a 77MW hydropower plant.